I'll believe it when I see it. I remember being told that Flash support for the iPhone would be available in a few months. That was in July 2007. It's still not available. But Dan Frommer at the Business Insider reports that a Hulu app for the iPhone (and iPod Touches) is on its way:
Hulu is in the process of developing an app for Apple's (AAPL) iPhone and iPod touch, we have learned from a plugged-in industry executive. The app is coming soon (within a few months) and is "badass" -- as excellent as Hulu's Web site. Video will work over both wi-fi and 3G, we're told.
Why would Apple and AT&T approve this app, which will use up a lot of bandwidth and compete with Apple's iTunes video store? Because it will help sell iPhones, iPod touches, and AT&T subscriptions. And that's the whole point of the App Store. (And if we were Hulu, we'd offer Apple and/or AT&T an ad revenue-sharing deal, too.)
I love watching shows on the iPhone, but the process of downloading them from iTunes or converting them off my DVR and formatting them for the iPhone and then loading them -- mostly, it just winds up being more of a barrier than I can deal with. The Hulu app for the iPhone will likely be better than the Flash support that would just allow you to do it via the iPhone's Safari browser. Instead, I'm sure it will work like the YouTube application -- be super easy to browse and select videos and, format it well for the phone. I hope this "coming soon" winds up working out better than it did with Flash support.